MAD II

The European Securities and Markets Authority (ESMA) has published a Q&A document regarding the implementation of the Market Abuse Regulation. The purpose of the document is to promote convergent implementation and application of the market abuse regime. The document is aimed … More

In February 2015 the FCA published a review focusing on the key aspects of an effective framework for Asset Managers to manage market abuse risk. This includes ways to: • minimise the risk of receiving but not identifying inside information … More

The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2014 come into force next month on 15 December: see here for more details. The purpose of the Regulations is to extend the prohibition on market manipulation in section 118(8) of the Financial Services and … More

The Financial Conduct Authority (FCA) has announced its thematic supervisory plans for 2014 / 15 as a central part of its annual Business Plan published on the 31st March 2014. The supervisory plan contains much that will be of relevance … More

On the 7th of January 2014, a ‘Dear CEO’ letter was sent to credit institutions and investment firms in Ireland regarding a thematic inspection on Market Abuse related suspicious transaction reporting which was undertaken by the Central Bank of Ireland in 2013. … More

The European Securities and Markets Authority (“ESMA”) has published a Discussion Paper setting out its initial views on the implementing measures it will have to develop for the new Market Abuse Regulation (“MAR”). MAR aims to enhance market integrity and … More

This month ESMA published a Discussion Paper setting out its initial views on the implementing measures it will have to develop for the new Market Abuse Regulation (MAR). The aim of this new MAR is to enhance market integrity and investor protection. … More

The European Parliament voted today to formally endorse the political agreement on a Regulation on insider dealing and market manipulation (i.e. market abuse) to tackle market abuse more effectively, subject to alignment with the final political agreement on MiFID II … More

ESMA’s current review of MAD II and the likelihood of EU-wide mandatory criminal sanctions for market abuse will bring increased obligations on sell side brokerage firms across Europe. The High-Level Group on Financial Supervision, set up in the wake of the financial … More

Following the decision of the Upper Tribunal with regards to FSA fines against a Canadian trading firm for market abuse and dated 23 January 2013, the FSA urged other market participants to take note of this judgment which makes it … More

On 07th December 2012, at a meeting in the Council of the European Union, the European justice ministers approved a general approach on a draft directive to penalise market abuse (MAD II), namely insider trading and market manipulation. The proposed … More

In September the Presidency of the Council of the EU published a compromise proposal (dated 3 September 2012) on the proposed Regulation on insider dealing and market manipulation (MAR). The MAR proposal, together with the European Commission’s proposed Directive on … More